TEST BANK Understanding Business, 13th
Edition By William Nickels, Jim McHugh,
Chapters 1 – 20
,TABLE OF CONTENTS
CHAPTER 1: Taking Risks and Making Profits within the Dynamic Business Environment
CHAPTER 2: Understanding Economics and How It Affects Business
CHAPTER 3: Doing Business in Global Markets
CHAPTER 4: Demanding Ethical and Socially Responsible Behavior
CHAPTER 5: How to Form a Business
CHAPTER 6: Entrepreneurship and Starting a Small Business
CHAPTER 7: Management and Leadership
CHAPTER 8: Structuring Organizations for Today’s Challenges
CHAPTER 9: Production and Operations Management
CHAPTER 10: Motivating Employees
CHAPTER 11: Human Resource Management: Finding and Keeping the Best Employees
CHAPTER 12: Dealing with Employee–Management Issues
CHAPTER 13: Marketing: Helping Buyers Buy
CHAPTER 14: Developing and Pricing Goods and Services
CHAPTER 15: Distributing Products
CHAPTER 16: Using Effective Promotions
CHAPTER 17: Understanding Accounting and Financial Information
CHAPTER 18: Financial Management
CHAPTER 19: Using Securities Markets for Financing and Investing Opportunities
CHAPTER 20: Money, Financial Institutions, and the Federal Reserve
,Answers are at the end of Each chapter
Chapter 1
Student name:
1) Describe three ways that governments can foster entrepreneurship and encourage
the creation of wealth
2) Describe how businesses can use technology to be more responsive to customers.
3) Competition among businesses has never been greater. Identify and describe two
ways that businesses can become more competitive.
4) What fis fdemography? fIdentify ftwo fdemographic ftrends fin fthe fUnited fStates fand
fdiscuss fhow fthey fwill fimpactUnited fStates fbusinesses.
5) Describe fwhat fwe fmean fby fgreening fand fthinking fgreen. fList ffive fways fthat fpeople
fand fbusinesses fare fparticipating fin fthe fgreen fmovement. fList fbusiness fopportunities fthat
fmay femerge ffrom fthis fmovement.
6) Trace fthe fevolution fof fAmerican fbusiness. fIdentify fthe fkey ftrends, fand fdiscuss
fthe fimplications fthese ftrends fhave ffor fthe ffuture.
, 7) An fentity fthat fseeks fto fearn fa fprofit fby fproviding fa fgood for fservice fis fknown fas fa(n)
A) industry.
B) corporation.
C) business.
D) service.
8) is fthe famount fa fbusiness fearns fafter fdeducting fwhat fit fspends ffor
fsalaries fand fother fexpenses.
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A fbusiness fincurs fa f if fits fcosts fand fexpenses fexceed fits frevenues.
A) loss
B) liability
C) debit
D) dividend
10) is fthe fchance fa fbusiness fowner fwill flose fthe ftime fand fmoney finvested
fin fa fbusiness fthat fproves fto fbe funprofitable.
A) Depreciation
B) Risk
C) Opportunity
D) Redundancy
11) The ftotal famount fof fmoney fthat fbusinesses ftake fin fby fselling fgoods fand fservices fis
fcalled
Edition By William Nickels, Jim McHugh,
Chapters 1 – 20
,TABLE OF CONTENTS
CHAPTER 1: Taking Risks and Making Profits within the Dynamic Business Environment
CHAPTER 2: Understanding Economics and How It Affects Business
CHAPTER 3: Doing Business in Global Markets
CHAPTER 4: Demanding Ethical and Socially Responsible Behavior
CHAPTER 5: How to Form a Business
CHAPTER 6: Entrepreneurship and Starting a Small Business
CHAPTER 7: Management and Leadership
CHAPTER 8: Structuring Organizations for Today’s Challenges
CHAPTER 9: Production and Operations Management
CHAPTER 10: Motivating Employees
CHAPTER 11: Human Resource Management: Finding and Keeping the Best Employees
CHAPTER 12: Dealing with Employee–Management Issues
CHAPTER 13: Marketing: Helping Buyers Buy
CHAPTER 14: Developing and Pricing Goods and Services
CHAPTER 15: Distributing Products
CHAPTER 16: Using Effective Promotions
CHAPTER 17: Understanding Accounting and Financial Information
CHAPTER 18: Financial Management
CHAPTER 19: Using Securities Markets for Financing and Investing Opportunities
CHAPTER 20: Money, Financial Institutions, and the Federal Reserve
,Answers are at the end of Each chapter
Chapter 1
Student name:
1) Describe three ways that governments can foster entrepreneurship and encourage
the creation of wealth
2) Describe how businesses can use technology to be more responsive to customers.
3) Competition among businesses has never been greater. Identify and describe two
ways that businesses can become more competitive.
4) What fis fdemography? fIdentify ftwo fdemographic ftrends fin fthe fUnited fStates fand
fdiscuss fhow fthey fwill fimpactUnited fStates fbusinesses.
5) Describe fwhat fwe fmean fby fgreening fand fthinking fgreen. fList ffive fways fthat fpeople
fand fbusinesses fare fparticipating fin fthe fgreen fmovement. fList fbusiness fopportunities fthat
fmay femerge ffrom fthis fmovement.
6) Trace fthe fevolution fof fAmerican fbusiness. fIdentify fthe fkey ftrends, fand fdiscuss
fthe fimplications fthese ftrends fhave ffor fthe ffuture.
, 7) An fentity fthat fseeks fto fearn fa fprofit fby fproviding fa fgood for fservice fis fknown fas fa(n)
A) industry.
B) corporation.
C) business.
D) service.
8) is fthe famount fa fbusiness fearns fafter fdeducting fwhat fit fspends ffor
fsalaries fand fother fexpenses.
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A fbusiness fincurs fa f if fits fcosts fand fexpenses fexceed fits frevenues.
A) loss
B) liability
C) debit
D) dividend
10) is fthe fchance fa fbusiness fowner fwill flose fthe ftime fand fmoney finvested
fin fa fbusiness fthat fproves fto fbe funprofitable.
A) Depreciation
B) Risk
C) Opportunity
D) Redundancy
11) The ftotal famount fof fmoney fthat fbusinesses ftake fin fby fselling fgoods fand fservices fis
fcalled
